TORONTO, Sept. 10, 2013 /CNW/ - Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or 'the
Company') the exploration and development company focused in Brazil, is pleased to
announce the final set of results from the completed infill resource
drilling programme at its 100% owned Araguaia nickel project
('Araguaia') in Para State, north central Brazil.
Highlights
-
New high grade nickel intersections at the Vila Oito Target include:
-
20.21 metres grading 2.29% Ni
-
13.48 metres grading 1.77% Ni
-
20.38 metres grading 1.68% Ni
-
New high grade nickel intersections from the Vila Oito West Target
include:
-
7.22 metres grading 2.10% Ni
-
8.67 metres grading 1.76% Ni
-
9.37 metres grading 1.72% Ni
-
321 holes (9,309 metres) of the final Phase 3 infill drill programme
completed on time and within budget targeting the Jacutinga, Vila Oito
West, Vila Oito, Vila Oito East and Pequizeiro West targets at
Araguaia.
-
Geotechnical drilling as part of the Pre-Feasibility study ('PFS') has
been completed in the proposed pits on the Baião, Pequizeiro,
Pequizeiro West, Jacutinga, Vila Oito West, Vila Oito and Vila Oito
targets. This drilling comprised a total of 12 holes (386 metres) - an
additional 6 hole geotechnical drilling programme is currently underway
on the proposed plant site.
Horizonte CEO Jeremy Martin said, "This is the final set of drill
results from the infill resource drilling programme at Araguaia, which
has been completed on time and on budget. Both the Vila Oito and Vila
Oito West target results are highly encouraging and have returned a
number of drill holes with high nickel grades and good vertical
thickness. All of the results have now been integrated into the PFS
which will result in an updated Resource Model as part of the overall
study. Snowden Mining Consultants, with the associated consulting
groups, are making solid progress on the PFS study, with initial work
complete on the plant site selection, initial mining design and
preliminary mining schedule. The programme is running to budget and is
on schedule for completion in H1 2014. An additional geotechnical
drilling programme is underway on the selected plant site to determine
the ground conditions around the planned locations of the principal
structures namely; primary crusher, rotary kiln, electric furnace and
the slag disposal facility.
"Our exploration team has also been active, evaluating new potential
targets within our extensive land position around the core Araguaia
resources. We look forward to providing further updates on the
progress of the PFS and other exploration activity in the coming
weeks."
Further Details
These results are the final set of drill results from the Phase 3
mineral resource drilling programme. This programme was designed to
complete infill drilling on 100 m x 100 m grids on the Jacutinga, Vila
Oito West, Vila Oito, Vila Oito East and Pequizeiro West targets of the
Araguaia Nickel Project in Brazil. 321 holes (9,309 metres) were
completed, including 35 holes (1,186 metres) on Jacutinga, 84 holes
(1,669 metres) on Vila Oito West, 133 holes (4,228 metres) on Vila
Oito, 44 holes (1,509 metres) on Vila Oito East and 25 holes (717
metres) on Pequizeiro West. The results from the 71 holes (2,139
metres) from the 100m x 100m infill drilling on the Vila Oito target
are detailed in Table 1. The results from the 84 holes (1,669 metres) from the combined 141m x
141m and 100m x 100m infill drilling on Vila Oito West are detailed in Table 2. The results contain several high-grade intersections, including 20.21
metres grading 2.29% nickel (Hole PCA-DD-1283), 13.48 metres grading
1.77% nickel (Hole PCA-DD-1266) and 20.38 metres grading 1.68% nickel
(Hole PCA-DD-1270) on the Vila Oito target; 7.22 metres grading 2.10%
nickel (PCA-DD-1310), 8.67 metres grading 1.76% nickel (PCA-DD-1357)
and 9.37 metres grading 1.72% nickel (PCA-DD-1319) on the Vila Oito
West target.
It should be noted that a number of the drill holes from these latest
results step out around the edges of the main mineralised zones at the
project area and as such not all the holes have encountered economic
nickel grades at a 1% nickel cut-off grade. However where economic
grades are intercepted then the drill programme will be expanded to
infill around these areas.
Target maps showing the completed and planned drill holes can be viewed
on www.horizonteminerals.com.
Table 1. Vila Oito Drilling Programme
|
100m x 100m Infill Drilling
|
Intercepts ≥1% Ni cut-off
|
Holes PCA_DD_1266 to PCA_DD_1294 & PCA_DD_1379 to PCA_DD_1420
|
HOLE_ID
|
From (m)
|
To (m)
|
Width (m)
|
Ni %
|
Co %
|
PCA_DD_1266
|
8.66
|
22.14
|
13.48
|
1.77
|
0.036
|
PCA_DD_1267
|
10.70
|
15.75
|
5.05
|
1.09
|
0.020
|
PCA_DD_1268
|
7.88
|
23.12
|
15.24
|
1.55
|
0.053
|
PCA_DD_1269
|
12.38
|
18.3
|
5.92
|
1.47
|
0.061
|
PCA_DD_1270
|
8.52
|
28.9
|
20.38
|
1.68
|
0.041
|
PCA_DD_1271
|
7.63
|
15.20
|
7.57
|
1.13
|
0.290
|
PCA_DD_1272
|
11.66
|
17.16
|
5.50
|
1.18
|
0.033
|
&
|
26.22
|
36.20
|
9.98
|
1.49
|
0.023
|
PCA_DD_1273
|
NSI
|
PCA_DD_1274
|
NSI
|
PCA_DD_1275
|
12.13
|
30.35
|
18.22
|
1.24
|
0.041
|
PCA_DD_1276
|
11.51
|
19.24
|
7.73
|
1.28
|
0.048
|
PCA_DD_1277
|
21.15
|
27.33
|
6.18
|
1.21
|
0.055
|
PCA_DD_1278
|
20.78
|
31.80
|
11.02
|
1.38
|
0.052
|
PCA_DD_1279
|
8.87
|
19.34
|
10.47
|
1.49
|
0.060
|
PCA_DD_1280
|
11.84
|
27.29
|
15.45
|
1.56
|
0.049
|
PCA_DD_1281
|
5.02
|
8.35
|
3.33
|
1.63
|
0.354
|
&
|
12.40
|
17.58
|
5.18
|
1.19
|
0.020
|
PCA_DD_1282
|
NSI
|
PCA_DD_1283
|
10.62
|
30.83
|
20.21
|
2.29
|
0.030
|
PCA_DD_1284
|
9.30
|
26.14
|
16.84
|
1.46
|
0.042
|
PCA_DD_1285
|
13.54
|
29.62
|
16.08
|
1.05
|
0.034
|
PCA_DD_1286
|
8.01
|
19.97
|
11.96
|
1.40
|
0.080
|
PCA_DD_1287
|
NSI
|
PCA_DD_1288
|
7.94
|
18.35
|
10.41
|
1.27
|
0.044
|
&
|
21.53
|
25.05
|
3.52
|
1.04
|
0.020
|
&
|
27.39
|
30.45
|
3.06
|
1.09
|
0.020
|
PCA_DD_1289
|
10.65
|
19.59
|
8.94
|
1.44
|
0.039
|
PCA_DD_1290
|
NSI
|
PCA_DD_1291
|
9.4
|
12.08
|
2.68
|
1.29
|
0.112
|
PCA_DD_1292
|
10.91
|
13.65
|
2.74
|
1.37
|
0.083
|
PCA_DD_1293
|
NSI
|
PCA_DD_1294
|
NSI
|
PCA_DD_1379
|
9.12
|
16.02
|
6.9
|
2.18
|
0.079
|
PCA_DD_1380
|
11.5
|
19.8
|
8.3
|
1.22
|
0.049
|
PCA_DD_1381
|
8.61
|
17.08
|
8.47
|
1.42
|
0.044
|
PCA_DD_1382
|
10.58
|
14.86
|
4.28
|
1.22
|
0.053
|
PCA_DD_1383
|
16.87
|
20.17
|
3.3
|
1.09
|
0.056
|
PCA_DD_1384
|
13.97
|
17.63
|
3.66
|
1.12
|
0.119
|
PCA_DD_1385
|
8.35
|
15
|
6.65
|
1.95
|
0.057
|
PCA_DD_1386
|
10.15
|
12.25
|
2.1
|
1.37
|
0.107
|
&
|
14.55
|
16.78
|
2.23
|
1.25
|
0.055
|
&
|
19.63
|
23.45
|
3.82
|
1.11
|
0.063
|
PCA_DD_1387
|
13.94
|
27.28
|
13.34
|
1.47
|
0.035
|
PCA_DD_1388
|
12.32
|
19.08
|
6.76
|
1.46
|
0.057
|
PCA_DD_1389
|
NSI
|
PCA_DD_1390
|
12.25
|
23.01
|
10.76
|
1.64
|
0.052
|
PCA_DD_1391
|
NSI
|
PCA_DD_1392
|
NSI
|
PCA_DD_1393
|
15.2
|
35.79
|
20.59
|
1.37
|
0.048
|
PCA_DD_1394
|
9.66
|
14.88
|
5.22
|
1.31
|
0.046
|
PCA_DD_1395
|
15.17
|
22.73
|
7.56
|
1.31
|
0.046
|
&
|
26.14
|
31
|
4.86
|
1.31
|
0.030
|
PCA_DD_1396
|
NSI
|
PCA_DD_1397
|
NSI
|
PCA_DD_1398
|
10.98
|
17.81
|
6.83
|
1.26
|
0.040
|
PCA_DD_1399
|
NSI
|
PCA_DD_1400
|
NSI
|
PCA_DD_1401
|
NSI
|
PCA_DD_1402
|
12.43
|
18.54
|
6.11
|
1.39
|
0.063
|
PCA_DD_1403
|
8.58
|
16.3
|
7.72
|
1.34
|
0.105
|
PCA_DD_1404
|
NSI
|
PCA_DD_1405
|
NSI
|
PCA_DD_1406
|
NSI
|
PCA_DD_1407
|
10.96
|
15.3
|
4.34
|
1.09
|
0.031
|
PCA_DD_1408
|
12
|
21.12
|
9.12
|
1.29
|
0.044
|
PCA_DD_1409
|
13.19
|
16.48
|
3.29
|
1.29
|
0.073
|
PCA_DD_1410
|
NSI
|
PCA_DD_1411
|
NSI
|
PCA_DD_1412
|
7.65
|
9.95
|
2.3
|
1.18
|
0.030
|
PCA_DD_1413
|
NSI
|
PCA_DD_1414
|
23.07
|
27.3
|
4.23
|
1.09
|
0.032
|
PCA_DD_1415
|
NSI
|
PCA_DD_1416
|
NSI
|
PCA_DD_1417
|
12.3
|
16.4
|
4.1
|
1.03
|
0.041
|
PCA_DD_1418
|
11.46
|
19.88
|
8.42
|
1.44
|
0.048
|
PCA_DD_1419
|
NSI
|
PCA_DD_1420
|
9.75
|
20.62
|
10.87
|
1.22
|
0.071
|
Table 2. Vila Oito West Drilling Programme
|
141m x 141m + 100m x 100m Infill Drilling
|
Intercepts ≥1% Ni cut-off
|
Holes PCA_DD_1295 to PCA_DD_1378
|
HOLE_ID
|
From (m)
|
To (m)
|
Width (m)
|
Ni %
|
Co %
|
PCA_DD_1295
|
NSI
|
|
|
|
|
PCA_DD_1296
|
5.04
|
12.20
|
7.16
|
1.46
|
0.05
|
PCA_DD_1297
|
10.63
|
19.82
|
9.19
|
1.39
|
0.06
|
PCA_DD_1298
|
10.52
|
13.82
|
3.30
|
1.24
|
0.10
|
PCA_DD_1299
|
9.20
|
17.74
|
8.54
|
1.29
|
0.05
|
PCA_DD_1300
|
7.99
|
12.71
|
4.72
|
1.62
|
0.07
|
PCA_DD_1301
|
16.10
|
21.50
|
5.40
|
1.44
|
0.10
|
PCA_DD_1302
|
5.15
|
13.00
|
7.85
|
1.61
|
0.08
|
PCA_DD_1303
|
6.28
|
14.90
|
8.62
|
1.59
|
0.12
|
PCA_DD_1304
|
12.27
|
24.20
|
11.93
|
1.47
|
0.07
|
PCA_DD_1305
|
NSI
|
PCA_DD_1306
|
5.98
|
11.72
|
5.74
|
1.32
|
0.07
|
PCA_DD_1307
|
17.23
|
30.15
|
12.92
|
1.51
|
0.11
|
PCA_DD_1308
|
5.37
|
17.96
|
12.59
|
1.25
|
0.03
|
PCA_DD_1309
|
10.27
|
17.46
|
7.19
|
1.34
|
0.10
|
PCA_DD_1310
|
5.02
|
12.24
|
7.22
|
2.10
|
0.09
|
PCA_DD_1311
|
NSI
|
PCA_DD_1312
|
6.23
|
9.23
|
3.00
|
1.57
|
0.03
|
PCA_DD_1313
|
2.75
|
9.85
|
7.10
|
1.58
|
0.14
|
PCA_DD_1314
|
13.36
|
19.54
|
6.18
|
1.29
|
0.04
|
PCA_DD_1315
|
NSI
|
PCA_DD_1316
|
3.07
|
8.22
|
5.15
|
1.36
|
0.06
|
PCA_DD_1317
|
2.48
|
8.97
|
6.49
|
1.21
|
0.08
|
PCA_DD_1318
|
3.31
|
9.40
|
6.09
|
1.59
|
0.09
|
&
|
13.11
|
15.31
|
2.20
|
1.34
|
0.02
|
PCA_DD_1319
|
3.12
|
12.49
|
9.37
|
1.72
|
0.11
|
PCA_DD_1320
|
NSI
|
PCA_DD_1321
|
5.46
|
16.23
|
10.77
|
1.52
|
0.08
|
PCA_DD_1322
|
6.54
|
12.23
|
5.69
|
1.28
|
0.07
|
PCA_DD_1323
|
2.32
|
4.86
|
2.54
|
1.15
|
0.12
|
PCA_DD_1324
|
5.66
|
19.97
|
14.31
|
1.69
|
0.14
|
PCA_DD_1325
|
2.52
|
8.35
|
5.83
|
1.26
|
0.05
|
PCA_DD_1326
|
10.25
|
12.47
|
2.22
|
1.23
|
0.18
|
&
|
14.82
|
20.99
|
6.17
|
1.15
|
0.05
|
PCA_DD_1327
|
2.05
|
3.41
|
1.36
|
1.55
|
0.07
|
PCA_DD_1328
|
1.61
|
4.16
|
2.55
|
1.15
|
0.13
|
PCA_DD_1329
|
7.45
|
12.24
|
4.79
|
1.06
|
0.02
|
PCA_DD_1330
|
2.89
|
7.07
|
4.18
|
1.22
|
0.07
|
PCA_DD_1331
|
NSI
|
PCA_DD_1332
|
1.90
|
4.97
|
3.07
|
1.13
|
0.05
|
PCA_DD_1333
|
6.41
|
15.31
|
8.90
|
1.29
|
0.11
|
PCA_DD_1334
|
2.60
|
7.35
|
4.75
|
1.69
|
0.13
|
PCA_DD_1335
|
3.20
|
9.96
|
6.76
|
1.45
|
0.06
|
PCA_DD_1336
|
6.27
|
13.77
|
7.50
|
1.35
|
0.06
|
&
|
16.89
|
19.39
|
2.50
|
1.32
|
0.05
|
&
|
23.63
|
26.44
|
2.81
|
1.17
|
0.04
|
PCA_DD_1337
|
3.40
|
7.20
|
3.80
|
1.08
|
0.03
|
PCA_DD_1338
|
18.30
|
23.16
|
4.86
|
1.11
|
0.05
|
PCA_DD_1339
|
3.87
|
11.94
|
8.07
|
1.36
|
0.07
|
PCA_DD_1340
|
1.28
|
3.48
|
2.20
|
1.41
|
0.08
|
PCA_DD_1341
|
1.54
|
3.61
|
2.07
|
1.08
|
0.05
|
PCA_DD_1342
|
1.25
|
6.20
|
4.95
|
1.61
|
0.12
|
PCA_DD_1343
|
NSI
|
PCA_DD_1344
|
0.65
|
2.94
|
2.29
|
1.53
|
0.03
|
PCA_DD_1345
|
4.73
|
7.12
|
2.39
|
1.23
|
0.05
|
PCA_DD_1346
|
0.65
|
4.64
|
3.99
|
1.57
|
0.11
|
PCA_DD_1347
|
NSI
|
PCA_DD_1348
|
1.29
|
8.94
|
7.65
|
1.53
|
0.12
|
PCA_DD_1349
|
NSI
|
PCA_DD_1350
|
1.20
|
4.80
|
3.60
|
1.55
|
0.10
|
&
|
11.08
|
13.70
|
2.62
|
1.30
|
0.04
|
PCA_DD_1351
|
1.00
|
9.25
|
8.25
|
1.31
|
0.13
|
PCA_DD_1352
|
NSI
|
PCA_DD_1353
|
0.46
|
2.86
|
2.40
|
1.09
|
0.09
|
&
|
8.66
|
11.70
|
3.04
|
0.99
|
0.03
|
PCA_DD_1354
|
5.97
|
11.21
|
5.24
|
1.31
|
0.06
|
PCA_DD_1355
|
NSI
|
PCA_DD_1356
|
NSI
|
PCA_DD_1357
|
1.20
|
9.87
|
8.67
|
1.76
|
0.05
|
PCA_DD_1358
|
NSI
|
PCA_DD_1359
|
NSI
|
PCA_DD_1360
|
4.56
|
10.23
|
5.67
|
1.42
|
0.08
|
PCA_DD_1361
|
NSI
|
PCA_DD_1362
|
1.90
|
20.70
|
18.80
|
1.57
|
0.05
|
PCA_DD_1363
|
NSI
|
PCA_DD_1364
|
NSI
|
PCA_DD_1365
|
3.27
|
7.90
|
4.63
|
1.32
|
0.06
|
PCA_DD_1366
|
3.46
|
7.35
|
3.89
|
1.37
|
0.17
|
PCA_DD_1367
|
NSI
|
PCA_DD_1368
|
NSI
|
PCA_DD_1369
|
2.90
|
15.35
|
12.45
|
1.30
|
0.04
|
PCA_DD_1370
|
NSI
|
PCA_DD_1371
|
NSI
|
PCA_DD_1372
|
NSI
|
PCA_DD_1373
|
NSI
|
PCA_DD_1374
|
2.49
|
11.36
|
8.87
|
1.56
|
0.07
|
PCA_DD_1375
|
6.42
|
17.38
|
10.96
|
1.50
|
0.09
|
PCA_DD_1376
|
1.90
|
14.69
|
12.79
|
1.43
|
0.07
|
PCA_DD_1377
|
8.12
|
14.02
|
5.90
|
1.29
|
0.05
|
PCA_DD_1378
|
3.58
|
8.08
|
4.50
|
1.55
|
0.05
|
&
|
11.51
|
13.80
|
2.29
|
1.69
|
0.04
|
NSI: No significant intersection
The compositing of the nickel grades in the individual holes was
completed across geological boundaries using a nickel cut-off of 1%
with a minimum intercept length of 2.0 metres and a maximum length of
internal waste of 2 metres. All holes were vertical and, as these
nickel laterite deposits are essentially flat-lying, all widths given
are true widths. Core recoveries in the mineralised sections met the
appropriate standards for this style of mineralisation and were
generally >90%.
Sample preparation and analyses
Samples from drill core were crushed and pulverised at the SGS
laboratory in Goiania and the resultant pulps analysed at the SGS
laboratory in Belo Horizonte using tetraborate fusion and X-Ray
Fluorescence ('XRF'). Full QA/QC procedures were followed, including
the insertion of standards, duplicates and blanks. Check samples
representing approximately 5% of all the samples, will be sent to
another international laboratory for analysis by XRF.
Horizonte Minerals prepared this news release and Andrew F. Ross MSc.,
P.Geo., FAusIMM, of Snowden Mining Industry Consultants Pty. Ltd., a
Qualified Person under National Instrument 43-101, reviewed and
approved the drill hole technical information.
About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX listed exploration and
development company focused in Brazil which wholly owns the advanced
Araguaia nickel project located to the south of the Carajas mineral
district of northern Brazil. The project currently has an estimated
Mineral Resource of 39.3Mt grading 1.39% Ni (Indicated) and 60.9Mt at
1.22% Ni (Inferred) at a 0.95% nickel cut-off.
The Company has completed a Preliminary Economic Assessment at Araguaia
that illustrates robust economics based on low strip ratio with good
infrastructure. It is Horizonte's intention to complete a
Pre-Feasibility Study at Araguaia to further prove the economics of the
project.
In addition it has support from its major shareholder, Teck Resources.
The company is well funded to accelerate the development of its core
project.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company,
certain information contained in this press release constitutes
"forward-looking information" under Canadian securities legislation.
Forward-looking information includes, but is not limited to, statements
with respect to the potential of the Company's current or future
property mineral projects; the success of exploration and mining
activities; cost and timing of future exploration, production and
development; the estimation of mineral resources and reserves and the
ability of the Company to achieve its goals in respect of growing its
mineral resources; and the realization of mineral resource and reserve
estimates. Generally, forward-looking information can be identified by
the use of forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking information
is based on the reasonable assumptions, estimates, analysis and
opinions of management made in light of its experience and its
perception of trends, current conditions and expected developments, as
well as other factors that management believes to be relevant and
reasonable in the circumstances at the date that such statements are
made, and are inherently subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to risks related
to: exploration and mining risks, competition from competitors with
greater capital; the Company's lack of experience with respect to
development-stage mining operations; fluctuations in metal prices;
uninsured risks; environmental and other regulatory requirements;
exploration, mining and other licences; the Company's future payment
obligations; potential disputes with respect to the Company's title to,
and the area of, its mining concessions; the Company's dependence on
its ability to obtain sufficient financing in the future; the Company's
dependence on its relationships with third parties; the Company's joint
ventures; the potential of currency fluctuations and political or
economic instability in countries in which the Company operates;
currency exchange fluctuations; the Company's ability to manage its
growth effectively; the trading market for the ordinary shares of the
Company; uncertainty with respect to the Company's plans to continue to
develop its operations and new projects; the Company's dependence on
key personnel; possible conflicts of interest of directors and officers
of the Company, and various risks associated with the legal and
regulatory framework within which the Company operates.
Although management of the Company has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements.
SOURCE Horizonte Minerals plc